SEO Version
GROUP
1
2009
2010
2011
2012
2013
Selected Statement of Total Return and
Distribution Data
Gross Rental Income (S$ million)
513.7
539.2
582.7
610.9
676.6
Car Park Income (S$ million)
14.3
15.5
17.6
19.1
20.5
Other Income (S$ million)
24.7
26.4
30.3
31.6
32.1
Gross Revenue (S$ million)
552.7
581.1
630.6
661.6
729.2
Net Property Income (S$ million)
376.8
399.1
418.2
445.3
502.7
Distributable Income (S$ million)
282.0
294.8
301.6
316.9
356.2
Selected Statement of Financial Position Data
Total Assets (S$ million)
7,423.0 8,125.9 9,172.2 9,888.7 10,017.5
Total Borrowings
2
(S$ million)
2,243.0 2,916.9 3,483.8 3,706.1 3,567.2
Net Asset Value Per Unit
3
(S$)
1.54
1.53
1.56
1.64
1.71
Unitholders’ Funds (S$ million)
4,969.6 4,939.4 5,246.0
4
5,702.9
4
6,008.7
Market Capitalisation
5
(S$ million)
5,722.7 6,209.3 5,658.3 7,362.2 6,589.7
Portfolio Property Valuation (S$ million)
6,920.5 7,271.5 7,849.2 8,191.8 8,799.4
Key Financial Indicators
Earnings Per Unit (cents)
(2.23)
6
8.49
11.98
16.05
16.61
Distribution Per Unit (cents)
8.85
9.24
9.37
9.46
10.27
Gearing
30.2% 35.9% 38.4% 36.7% 35.3%
Interest Coverage (times)
3.6
3.6
3.3
3.2
4.2
Management Expense Ratio
7
0.7% 0.7% 0.8% 0.8% 0.8%
Unencumbered Assets as % of Total Assets
20.0% 36.3% 37.9% 77.5%
8
83.7%
8
Net Debt / EBITDA
9
(times)
6.6
6.8
7.4
6.9
6.5
Average Term to Maturity
10
(years)
1.7
2.6
2.7
3.9
11
3.6
Average Cost of Debt
3.5% 3.7% 3.5% 3.3% 3.4%
1
CMT Group includes the proportionate consolidation of the 40.00% interest in Raffles City Singapore, consolidation of 100.00% interest in CapitaRetail
Singapore Limited and CMT MTN Pte. Ltd. (CMT MTN) and equity accounting of its associate, CapitaRetail China Trust. With effect from 30 May 2011, CMT
Group also includes the proportionate consolidation of 30.00% interest in Infinity Mall Trust and Infinity Office Trust.
2
Based on principal sums only.
3 Excludes outstanding distributable income as at end of each period.
4 139,665,000 and 125,000,000 new units in CMT with gross proceeds of S$250.0 million each were issued via private placement exercises on
10 November 2011 and 30 November 2012 respectively.
5 Based on the closing unit price of S$1.80 on 31 December 2009, S$1.95 on 31 December 2010, S$1.70 on 30 December 2011, S$2.13 on 31 December 2012
and S$1.905 on 31 December 2013.
6 The negative Earnings Per Unit of 2.23 cents as at 31 December 2009 was mainly due to the revaluation deficit on investment properties.
7
Refers to the expenses of the Trust, excluding property expenses and finance costs but including performance component of CapitaMall Trust Management
Limited’s management fees, expressed as a percentage of weighted average net assets.
8 Higher in 2012 mainly due to the repayment of commercial mortgage backed securities (CMBS) borrowings under Silver Maple Investment Corporation Ltd
of S$783.0 million on 31 October 2012. Following the repayment, the properties mortgaged under the CMBS borrowings namely Tampines Mall, Junction 8,
Funan DigitaLife Mall, IMM Building, Bugis Junction, Sembawang Shopping Centre and JCube were discharged and released.
Higher in 2013 mainly due to the redemption and cancellation of the remaining S$98.25 million in principal amount of S$650.0million 1.0% convertible bonds
due 2013 (Convertible Bonds due 2013) at 109.31% of the principal amount upon maturity. Following the redemption and cancellation, the legal mortgage
over The Atrium@Orchard had been discharged and released.
9 Net Debt comprises gross debt less temporary cash intended for refinancing and capital expenditure and EBITDA refers to earnings before interest, tax,
depreciation and amortisation.
10 From 2009 to 2010, it was assumed that bondholders of Convertible Bonds due 2013 would exercise the put option in July 2011. In 2011 and 2012, it was
assumed that bondholders of the Convertible Bonds due 2013 would hold to maturity on 2 July 2013.
11 Higher in 2012 mainly due to the long tenures of between six to 12 years for four series of Euro-Medium Term Notes and one series of Medium Term Notes
issued under CMT MTN in 2012.
5
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